The streaming leader saw its stock rise 3.5 percent on Wednesday to $317.94, down 17 percent since May.
Shares of Netflix rose on Wednesday after nine straight days of losses that shaved $24 billion from its lofty valuation on Wall Street.
The streaming leader saw its stock rise 3.5 percent on Wednesday to $317.94, down 17 percent since May and down 23 percent in the past 12 months as investors worry about competition coming from Disney, WarnerMedia, Apple and others. A study from Streaming Observer and Mindnet Analytics in April suggested that 14.5 percent of Netflix subscribers will consider defecting to Disney+ when that $7-a-month service launches in November.
While some Netflix bears think the stock is not yet through with its decline — Michael Pachter of Wedbush predicts it will fall to $188 in the next 12 months — Todd Juenger of Bernstein said Wednesday that shares ought to rise 46 percent to $450 in the next year or so.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Netflix Stock Bounces Back, Ending Nine-Day Losing Streak With 3.5% PopShares in Netflix, which had lost $24 billion in value during nine consecutive trading days of decline, bounced back with a 3.5% gain on Wednesday. The stock closed at $317.94 on trading volume nea…
Read more »
Following Stock Trades And Mattress Sales, Real Estate Investing Goes DigitalAs Americans’ confidence in online financial services grows, crowdfunded commercial real estate investing is finding its stride.
Read more »
US stock futures cautiously lower amid further US-China meetingsU.S. stock index futures were cautiously lower on Wednesday morning as investors kept a close eye on U.S.-China trade links and monitored corporate earnings.
Read more »
Chinese Smartphone Maker Rewards Staffers With Stock After Making Fortune 500Chinese smartphone maker Xiaomi doled out stock awards to its more than 20,000 employees to commemorate its first-time inclusion in the Fortune 500 list of the world’s largest companies by revenue.
Read more »
Boeing, Caterpillar stock drops a 55-point drag on the DowThe declines in shares of Caterpillar Inc. and Boeing Co. in premarket trading Wednesday, after the industrial companies reported second-quarter results, was...
Read more »
Stock Tank Pools Are All The Rage And You're Going To Want OneStock tanks are good for more than just watering livestock — they make great pools, too.
Read more »